Trade & investment

ICC to provide training on new Bank Payment Obligation rules

  • 3 May 2013
ICC Combating corruption

ICC is set to run a one-off training and official launch of the ICC Uniform Rules for Bank Payment Obligation (URBPO) at its Paris headquarters on 17 May 2013.

ICC to provide training on new Bank Payment Obligation rules
ICC to provide training on new Bank Payment Obligation rules

Using case studies, the event will feature a full public presentation of the new rules, followed by an exclusive training session under the expertise of members of the Rules’ Drafting Group. It will equip participants with everything they need to know to get started using URBPO and its related ISO 20022 standards.

Developed by the ICC Banking Commission in partnership with the financial messaging provider SWIFT and set to come into force on 1 July 2013, the URBPO are an alternative means of settlement in international trade, and an innovative solution in supply chain finance for trade in the 21st century. 

“This training should not be missed,” said Thierry Senechal, ICC Senior Policy Manager and Banking Commission Executive Secretary. “The landscape of world trade has changed dramatically during the past decade. Borders and barriers have been broken down through widespread liberalization in emerging markets. The market has demanded new solutions to help deal with increasing cost pressures and changing risk dynamics. The URBPO are ICC’s response to these new market needs, providing the benefits of a letter of credit in an automated environment while quickening the financial supply chain in support of ever accelerating physical supply chains.”

Open to Chief Financial Officers, corporate credit and risk managers, corporate treasurers, bankers, insurers, consultants and vendors active in trade and supply chain finance, the training and launch will provide valuable insight from the ICC URBPO Drafting Group and give a detailed presentation of each rule while also exploring the corporate perspective of URBPOs.

Andre Casterman, Head of Corporate and Supply Chain Markets at SWIFT, Belgium and co-chair of the launch event said: “It’s vital in today’s global market that the financial industry align on improved rules and that banks be given strong foundations by which they can provide modern risk and financing services in step with today’s technology.”

For a detailed brochure or to register, please click here.

For more information on the rules visit URBPO.